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Friday, October 19, 2001

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BPCL/HPCL: Transient gains

THERE could be some near-term gains in the two oil refining Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd following the Government's decision to go in for strategic sale of their equity before the end of this fiscal.

The two stocks were marginally up in Thursday's trading. But the gains may not be sustained if earlier trends in PSU stocks up for divestment are any indication. For various reasons, these stocks shed value once the process gained momentum. If the trend continues, the stocks of BPCL and HPCL may fall to lower levels. -- BL Research Bureau

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